Sh3 billion housing project bond has been listed on the Nairobi Securities Exchange (NSE) by the Centum Real Estate Company, permitting the investors to grab the opportunity t trade the security before it matures in the year 2023.
The listing will help monitor the 3-year bond’s performance, practical implementation of the projects, and economical consumption.
“The listing gives investors flexibility and more options to cash in or re-balance their portfolios on a need basis during the life of the bond,” Centum Real Estate managing director Samuel Kariuki said.
According to the NSE chief executive Geoffrey Odundo, there has been an increasing appetite for the investors’ debt securities in the market.
“The success of the bond and those of the other corporate debt issues is a clear indication of the depth of the capital markets as a good avenue to fund well-structured and innovative instruments,” said Mr. Odundo.
Centum Real Estate Company, a Centum Investment Company subsidiary, builds 1,358 housing units in Ruaraka and Kasarani and high-end duplexes at Two Rivers. The property developer also said that an additional 1,515 units are undergoing market validation.